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PX-Z

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Quote from: Ethan151 on April 02, 2024, 02:25:18 AM

But apart from being a trader, is Roquu best safe?

I could only think using it with small amount the same on any centralized exchanges in the market may be it new or known, but i would recommend the latter.

If this friend of yours is very new user, exchange as a wallet is good for him to convert his holdings to fiat in any time he may want but i recommend only for limited of time, and use non-custodial wallet if he wants more privacy and safety for his funds.

Z-tight

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Quote from: uchegod-21 on April 05, 2024, 12:29:20 PM

Roquu will give him all he wants, just ensure that there fees are safe

Have you used this exchange before? Because in all my time in this forum i have not seen any member recommend this exchange before. When you are not so sure about any crypto service, it is better to use the popular ones that a lot of people in the community have been using, and for centralized exchanges, that has to be binance, kucoin, etc.

aioc

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if his creating a Roqqu was the right choice.

Why did he land on Roqqu? did you refer him to this centralized exchange for referral incentives, did you not explain to him about a noncustodial wallet where he is the one in charge or control of his Bitcoin,

It's very important that when you teach or refer someone to Bitcoin you should explain to him the advantages and disadvantages of using a custodial and noncustodial wallet, it's important that he learn where to store his coins, I always recommend to all my friends I referred to Bitcoin to only use non-custodial for full control of the coins and only use non-custodial if there is a need to trade.

348Judah

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.

I don't know much about the referral you made, but i would have suggested that you give him the use of a decentralized exchange instead, if he thinks privacy is a major concern and would not like to reveal him worth with anyone, but as long as we are dealing with a centralized exchange to help perform the required task for us, they will involve KYC in their dealings and you can't escape it until you comply with them together with their request.

EarnOnVictor

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.

Being a member of Bicointalk, you should have done better in advising this person. Fine, the choice of Bitcoin is great, it will even lessen the cost and increase the speed at which he gets the money. But the choice of wallet used (Roqqu) is not smart and safe. Roqqu doesn't have so good track record and it is relatively unpopular.

This is also a custodial arrangement in which the money could be denied, detained or worse. Is this what you want him to face in his first experience? If at all he needed the money so fast and did not want to use the non-custodial wallet for easy exchange, you should have advised him to use the popular exchanges where the P2P would be used to exchange the money for the local currency with ease. I hope everything goes well.

uchegod-21

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Quote from: tabas on April 02, 2024, 03:20:22 PM

Quote from: Ethan151 on April 02, 2024, 02:25:18 AM

Thanks for letting me know but I knew about Roquu from the forum and I thought it was the best I share with him. But apart from being a trader, is Roquu best safe?

Telling if it's the best and safe won't be heard from anyone here. Those that have used them might say that they're the best but I guess that the majority of us here never used and never traded there. As for checking, it's a wallet with integrated exchange as well. Binance as an exchange will be suggested if it's about centralized platform that wanted to be suggested by a friend to his other friend. But if this works for you and you're aware that this is a centralized platform just as Binance that doesn't give you your private keys, then you should be aware of that.

A CEX is a CEX and remains a CEX. In as much as is an exchange and accept KYC, what you should look at is how long they have been in existence. I think Roquu is not a today exchange, it has been there for sometime and I think it is a Nigerian based exchange. Your friend is a trader and recycles his money for business, so he might not need a non custodial wallet, unless he wants to commit some investment in bitcoin. Roquu will give him all he wants, just ensure that there fees are safe so that your friend could see a significant difference between when he was trading traditionally and when he started using bitcoin.

tabas

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Quote from: Ethan151 on April 02, 2024, 02:25:18 AM

Thanks for letting me know but I knew about Roquu from the forum and I thought it was the best I share with him. But apart from being a trader, is Roquu best safe?

Telling if it's the best and safe won't be heard from anyone here. Those that have used them might say that they're the best but I guess that the majority of us here never used and never traded there. As for checking, it's a wallet with integrated exchange as well. Binance as an exchange will be suggested if it's about centralized platform that wanted to be suggested by a friend to his other friend. But if this works for you and you're aware that this is a centralized platform just as Binance that doesn't give you your private keys, then you should be aware of that.

Pi-network314159

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.

For me binance and kucoin is the best centralized exchange I have used compeard to roqque. Roqque dont have more features like binance it does even have P2P and has a limited numbers of coin. Before you could purchase coin from it, you will pass throgh alot of process of downloading raven, Kuda or any other online banking system before you can be able to buy or sell compeard to binance. For me I don't like roqque.

SatoPrincess

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Quote from: Ethan151 on April 02, 2024, 02:25:18 AM

But apart from being a trader, is Roquu best safe?

Is the trading app legit? Yes. Safe to trade? Yes. Safe for hodling coins? No. Look at what happened to Patricia, it was considered safe until the trading app was hacked in 2022 and users lost all their money and had their data stolen by the hackers. The victims are yet to receive a refund from the company, it might take years before they get their money back if they are lucky.

Trading platforms should only be used to trade, move your coins to a non-custodial wallet if you’re holding for long period of time.

Su-asa

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.

I know that it's not good to keep Bitcoin on exchange even if the exchange is trustworthy in holding any crypto currency but I am sure exchange are not good to keep Bitcoin if you are planning to hold for years (long term frame). Why no send it to electrum Bitcoin wallet for safety purposes? It's fine to introduce Bitcoin to people but you must have a good knowledge of Bitcoin before you tell someone about Bitcoin so that you won't lead them astray.

Ethan151

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Quote from: Zaguru12 on March 31, 2024, 05:47:51 PM

Roqqu is more like a centralized exchange which holds your coins so if your trader friend isn’t going to keep the bitcoin for a long time then he can make use of the Roqqu exchange or the trader could move to a more popular centralized exchange if he doesn’t cares about losing his privacy to centralized exchanges. But if he cares for privacy then he can use decentralized exchanges like BISQ to do that.

But if he is holding the coin then he should go for a wallet like electrum. He can make use of it on an airgapped device or better off get a hardware wallet

Thanks for letting me know but I knew about Roquu from the forum and I thought it was the best I share with him. But apart from being a trader, is Roquu best safe?

AVE5

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I don't think that's a good ideal. Before anyone should accept bitcoin for means of payments in a trading firm, such trader who's not a bitcoin Investor must have to understand the volatility of the coin. Now it is not most basically about holding for long term goal anymore. That's if the Investor is not ready to accumulate, hold for investment purposes.
The trader must also understand the possibilities of lost before accepting your opinion at Op so that his emotions would always be justified without sentiments.
Meanwhile it's a good one have such role played to expand the use of bitcoin for payments.

SatoPrincess

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Quote from: Jewan420 on April 01, 2024, 05:38:51 AM

I had no idea about Rakku before coming to this forum. But from everyone's opinion it is certain that Rakku is a centralized fund that other than you can collect your fund information. I would agree with the experts that it would be wise to use a non-custodial wallet instead of Rakku to store bitcoins.

It’s Roqqu not Rakku. You have to careful when searching for p2p platforms and exchanges online so you don’t fall victim to scammers. There are many clone websites impersonating the original, they copy everything from the UI/UX design, logo e.t.c. The only difference between the original and the fake is the name and url.

Jewan420

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I had no idea about Rakku before coming to this forum. But from everyone's opinion it is certain that Rakku is a centralized fund that other than you can collect your fund information. I would agree with the experts that it would be wise to use a non-custodial wallet instead of Rakku to store bitcoins.

Taskford

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

How I suggested a trader to use Bitcoin for domestic and international trading. Bitcoin is a significant and prominent currency. I've known this trader for years, but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount. So, I introduced him to Bitcoin, and with the help of the forum, I was able to explain it in more detail. He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.

Any legit platform you recommend him is fine as long as he can start to use that and make his first transaction successful since for sure he would really love those activities happen then might he will get convince to include bitcoin on his trading activities.

Also try to introduce him this forum so that he can interact with people who also have interest in bitcoin since for sure he can learn a lot of things by participating on any discussions that can help him to learn more deeper about this new currency that has been introduce to him. Also glad you spend some time introducing bitcoin on a trader since maybe he can also influence his other fellow traders if he gain good results on each trades he made.

Die_empty

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Quote from: Belarge on March 31, 2024, 06:11:54 PM

Quote from: Zaguru12 on March 31, 2024, 05:47:51 PM

Roqqu is more like a centralized exchange which holds your coins so if your trader friend isn’t going to keep the bitcoin for a long time then he can make use of the Roqqu exchange or the trader could move to a more popular centralized exchange if he doesn’t cares about losing his privacy to centralized exchanges. But if he cares for privacy then he can use decentralized exchanges like BISQ to do that.

But if he is holding the coin then he should go for a wallet like electrum. He can make use of it on an airgapped device or better off get a hardware wallet

We should always ask questions in areas of the market, where we failed to understand, bringing on more experienced traders to solved them. Though I'm still learning and know what to expect from the system. These projects are weigh out of control and I've watch the top trends of them, not all of them will end up generating profits. Roqqu is one of the appropriate and best wallets I've come acrossed in the system, knowing the tight corners and doing everything within our circle. When it comes to selecting wallets, we're different and we have our choices to make.

We indeed choose wallets based on priorities and intentions. However, if you take a closer look at the original post you will discover that the person in question wants privacy. He doesn't want any third party to know about the business transaction. Since Roqqu is a centralised platform, they will ask for personal information which will defeat his intention. Roqqu would have been a good option if the person's interest is not privacy, the funds are not big or he wants to exchange the money immediately. In this particular situation, a verified decentralized wallet is the best option.

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Quote from: SatoPrincess on March 31, 2024, 06:28:37 PM

Roqqu is a centralized exchange. He will have to do KYC on the platform at some point and that defeats the purpose of staying anonymous. You tried your best to help your friend in your own little way but a better solution would be to tell him to use a open source wallet to receive the bitcoins. It’s bad practice to store bitcoins in a centralized exchange.

I concur to this very advice as it could be the Best, any storage or exchange where all your details is open is difficult to be full confidence, let him use custodian wallet as many has suggested where he has Private key or key phrase all details stored in his possession.

Darker45

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If your friend is to receive payment, I suggest that he use a non-custodial wallet, a wallet whose private keys are his and his alone, a wallet that gives him full control over his funds.

Roqqu is centralized and custodial. Not only does it control the funds of its users, it also collects information from them and also reserves the right to submit or share such information to authorities and other parties.

Further, Roqqu is based in Nigeria right? Considering the Bitcoin situation in that country right now, I guess it's prudent to avoid keeping funds there.

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Quote

but a few days ago, we were talking about how he wanted to receive some money from his Texas-based business partner without having to tell anyone else the amount.

Since both of you are after doing a "silent transaction" without anyone knowing about your received amount, then you should consider using an non exchange wallet precisely a noncustodial wallet and since the friend of yours is still new to the system, he could choose Blue wallet since its user friendly I think this will be fine IMO.
If he's is considering using electrum to receive the transaction and his transaction would be done in a multiple transactions, then he should probably consider using multiple addresses to avoid spending multiple inputs in his electrum wallet

Marykeller

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Quote from: Ethan151 on March 31, 2024, 05:35:26 PM

He then opened an account with Roqqu. I wanted to know if him creating a Roqqu was the right choice.

I believe that before someone does something or opens an account for themselves on a particular thing, they must have a reason why they chose that, leaving the rest that they can choose, that is known and can serve them better.

For your friend to choose Roqqu, they must have heard something about it, like the unique features that it offers that other crypto exchanges can't offer. For example, a Nigerian can't trade his or her USDT to naira on the peer-to-peer of Binance exchange. But someone who has a Roqqu account can.

Topic: A helping hand (Read 364 times)